Hanover Bancorp, Inc. (NASDAQ:HNVR) Short Interest Update

Hanover Bancorp, Inc. (NASDAQ:HNVR) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 7,900 shares, a growth of 6.8% from the October 15th total of 7,400 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 7,600 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On Hanover Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new position in Hanover Bancorp in the 2nd quarter worth $170,000. Geode Capital Management LLC lifted its holdings in shares of Hanover Bancorp by 46.5% during the third quarter. Geode Capital Management LLC now owns 43,512 shares of the company’s stock valued at $779,000 after purchasing an additional 13,803 shares during the last quarter. Finally, Fourthstone LLC purchased a new position in Hanover Bancorp during the third quarter valued at $877,000. Hedge funds and other institutional investors own 15.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler increased their price target on shares of Hanover Bancorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th.

Hanover Bancorp Trading Down 0.8 %

Shares of NASDAQ:HNVR traded down $0.18 during trading on Monday, reaching $21.20. 20,316 shares of the company traded hands, compared to its average volume of 6,542. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Hanover Bancorp has a 52-week low of $13.62 and a 52-week high of $22.04. The business’s fifty day moving average is $19.16 and its 200-day moving average is $17.67. The firm has a market capitalization of $151.16 million, a price-to-earnings ratio of 12.85 and a beta of -0.26.

Hanover Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, November 6th. Hanover Bancorp’s payout ratio is 24.24%.

Hanover Bancorp Company Profile

Hanover Bancorp, Inc, a bank holding company for Hanover Community Bank, provides personal and business lending and deposit services to businesses, municipalities, and individuals in the New York metro area. The company offers checking, credit cards, debit cards, money market, savings, government and municipal banking, and professional services, as well as time deposits, including certificate of deposit and individual retirement accounts.